Mirae Asset Vision Special Purpose Acquisition 11미래에셋비전스팩11호

Mirae Asset Vision SPAC 11 is a blank-check shell with no operating business and no merger target yet, so its shares trade on its prospects for a future deal rather than on current results.

The company is a special purpose acquisition company formed only to merge with another business, and the data shows no merger target selected yet. It reported an operating loss of about ₩15.4B and a net loss of about ₩4.1B for the latest period, with no revenue reported, and it holds about ₩46.4M in cash against ₩1.77B in borrowings. The shares closed at ₩1,974 on 2026-10-23, giving a market value of about ₩13.8B and a price-to-book ratio of 1.1.

What stands out

• Revenue is not reported, and the operating loss is large relative to the cash balance shown in the data.
• Borrowings of about ₩1.77B far exceed cash of about ₩46M, and liabilities are 14.1% of equity.
• The stock is well below its 52-week high of ₩4,965 but about 1% above its 52-week low of ₩1,952; the 3-month return is -1.3% and the 1-month return is 0.6%.
• Valuation ratios such as P/E and EV/EBITDA are not meaningful here because there are no earnings, and the data pays no dividend.
• Foreign ownership fell from 0.4% to 0.2% over 60 days, and 20-day investor flows show retail and foreign net selling against institutional net buying.

What to watch

• The data names target sectors (renewable energy, biopharma, medical devices, IT, green mobility) but no merger candidate, so any announced deal is the key event to monitor.
• The next half-year or quarterly filings, which will show whether losses and borrowings continue to grow.
• Ongoing 5%+ holding reports, which show changes in major shareholders' stakes.